
Oil Down as Rate Hikes Rekindle Recession Fears
Oil’s three-day rally ended as policymakers made clear they would continue tightening economic reins in the fight against inflation, reigniting fears of a global slowdown.
Oil’s three-day rally ended as policymakers made clear they would continue tightening economic reins in the fight against inflation, reigniting fears of a global slowdown.
At this week's flagship international summit on energy security, the clashing visions of the US and its allies were on full display.
Tight supplies and bullish market signals supported gains in both WTI and Brent.
Crude oil stocks, not including the SPR, stood at 443.1 million barrels on April 18, according to the U.S. Energy Information Administration.
BHP Group is preparing to begin looking for a new chief executive officer in the coming months.
Eni reported $1.6 billion in adjusted net income attributable to shareholders, down 11 percent from the same three-month period a year ago as oil prices weakened and oil and gas output fell.